XRP has proven to be one of the most robust assets in the cryptocurrency market in recent months, exhibiting significant stability despite the overall volatile market environment. Currently, XRP is encountering a crucial challenge near the resistance levels of $2.10 to $2.20, which could potentially dictate its next significant movement. Nonetheless, recent analytics point to a thriving network activity that may support a bullish scenario.
Data from Glassnode indicates that XRP’s network activity has surged by 67.50% in recent days, with active addresses increasing from 27,352 to 40,366. This notable rise in activity reflects an escalating interest and participation on-chain, a vital sign often linked to sustained price momentum. As investors remain vigilant about the broader market’s response to macroeconomic shifts, XRP is emerging as a focal point based on both its price trends and blockchain engagement.
XRP’s Market Prepares for Potential Breakout as Active Addresses Rise
The bullish sentiment around XRP appears to be gaining traction as the market approaches its next pivotal move. After consistently staying above the $1.80 mark, XRP seems well-prepared to continue its upward trajectory. Analysts are increasingly bullish, particularly in light of expectations that the broader macroeconomic landscape may eventually stabilize. As tensions among global powers ease and markets obtain clarity, there are predictions of a significant rise across crypto assets, led by XRP.
Despite growing optimism, some analysts caution that another downturn may be necessary before a genuine breakout can occur. They argue that the market must establish a stronger demand foundation by dipping below current lows to eliminate weaker participants. This perspective contrasts with the broader bullish outlook, but both viewpoints agree that a substantial market movement is imminent.
In support of the bullish outlook, crypto analyst Ali Martinez has shared relevant data from Glassnode indicating a marked increase in XRP’s network activity. In the last few days, active addresses on the XRP Ledger have jumped by 67.50%, rising from 27,352 to 40,366.
This increase in engagement signifies a growing user interest and rising on-chain demand — often precursors to significant price fluctuations. With network activity on the rise and a steady price structure, XRP may be approaching a pivotal moment.
XRP Faces Critical Technical Challenge: Will Bulls Protect the $2 Level?
Currently trading at $2.10, XRP shows resilience near an essential support area. However, technical signals are raising some alarms. The 200-day exponential moving average (EMA) is close to crossing under the 200-day simple moving average (SMA), a pattern that often indicates waning buying momentum or potential market exhaustion.
This situation intensifies the pressure on the bulls to maintain support above the $1.95 level. A decline below this threshold could lead to further downward movement and negatively affect market sentiment. For now, remaining above this critical zone is vital to preserving the short-term bullish structure and avoiding a more extensive retracement.
On a positive note, a definitive breakout above the $2.25 mark would reaffirm renewed buying interest, marking the start of a potential recovery rally. Such a move could drive XRP toward the upper limits of its current price range and boost momentum across the broader altcoin market.
As XRP maneuver through this decisive phase, traders are closely monitoring whether bulls can sustain the rally or if a more profound consolidation period is on the horizon. With rising network activity and strong investor interest, this price region could be key in determining XRP’s next major direction.
Featured image from Dall-E, chart from TradingView
